Question

In the past, Greg got paid $52,860 annually. Since switching to a new career, he has been making $23,787 annually. What was the percent of decrease in Greg's pay?

Answer 1

There is 55% of decrease in Greg's pay.

Explanation:

The old payment received by Greg annually = $52,860

The new payment received = $23,787

The Decrease in the payment annually = Old payment - New payment

= $52,860 - $23,787 = $29,073

So, the total decrease in the Greg's salary next year = $29,073

Now,
`\textrm{The percentage decrease in the salary}  = \frac{\textrm{Decrease in the salary}}{\textrm{Iniial Salary}}  * 100`

`= (29,073)/(52,860)  * 100 =  55`

Hence, there is 55% of decrease in Greg's pay.